The following partial information is taken from the comparative balance sheet of Levi Corporation:Shareholders' equity12/31/2021 12/31/2020 Common stock, $5 par; 20 million sharesauthorized; 15 million shares issuedand 9 million shares outstanding at 12/31/2021;and ____ million shares issuedand ____ shares outstanding at 12/31/2020.$75 million $45 million Additional paid-in capital on common stock 520 million 392 million Retained earnings 197 million 157 million Treasury common stock, at cost, 6 millionshares at 12/31/2021 and 4 millionshares at 12/31/2020 (72 million) (50 million) Total shareholders' equity$720 million $544 million What was the average price (rounded to the nearest dollar) of the additional shares issued by Levi in 2021?
A. $39 per share.
B. $5 per share.
C. $26 per share.
D. Cannot be determined from the given information.
Answer: C
Business
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